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Alibaba Seeks to Raise Up to $15 Billion in Hong Kong Share Sale

  • It’s said to proceed with listing hearing early next week
  • Alibaba’s share sale comes after a U.S.-China agreement
China Shows Off the Transformation It Wants You to See
Photographer: Qilai Shen/Bloomberg
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Alibaba Group Holding Ltd. is moving ahead with plans to raise as much as $15 billion in a Hong Kong share sale, people with knowledge of the matter said, a major win for a city rocked by months of civil unrest.

Asia’s largest company by market value is now preparing for a listing hearing as mandated by companies that debut on the Hong Kong bourse early next week, the people said, requesting not to be named discussing a private matter. The company declined to comment in an email.